In a strategic move aimed at expanding financial opportunities for Italian businesses, Cherry Bank has announced a new partnership with SACE, the financial insurance giant directly controlled by the Ministry of Economy and Finance. This alliance is set to facilitate access to credit for companies and SMEs through SACE’s Future Guarantee, covering a broad spectrum of financial needs while excluding debt refinancing operations.
Announced on March 14, 2024, in Padua, this agreement will enable Cherry Bank to offer financing ranging from €50,000 to €50 million, with fixed or variable rates and quarterly repayments. This financing tool is designed to support a variety of entrepreneurial projects from digitalization and technological innovation to gender equality, demonstrating a strong commitment to sustainable practices and the economic development of the country.
A standout feature of the Future Guarantee is its focus on supporting female entrepreneurship, offering opportunities to companies led or owned predominantly by women. This initiative marks a significant step forward in promoting gender equality in the Italian business world, a point proudly emphasized by Laura Gasparini, Head of Market & Investments at Cherry Bank, who recognizes the importance of this collaboration in promoting forward-looking practices in line with ESG principles.
The partnership between Cherry Bank and SACE forms part of a broader context of support for Italian businesses, particularly SMEs, on their path to growth and internationalization. Daniela Cataudella, Head of Dynamic Business Solutions at SACE, highlighted the shared commitment to supporting the sustainable transition and innovation of Italian companies, aiming to enhance their competitiveness both nationally and internationally.
SACE’s Future Guarantee is offered at market conditions, through a fully standardized and digitalized process, with medium to long-term financing (from 24 to 240 months). Businesses interested can take advantage of this opportunity to fund a wide range of projects, including those related to sustainability, infrastructure, and technological innovation, with the possibility of including expenses incurred up to 18 months before the financing request.
The collaboration between Cherry Bank and SACE marks a significant moment in the Italian financial landscape, providing businesses with tools and resources to navigate current and future challenges. With a focus on sustainable development and innovation, this partnership promises to be a catalyst for the growth and competitiveness of Italian businesses, paving the way for a more prosperous and inclusive future.
Laura Gasparini, Head of Market & Investments at Cherry Bank, stated, “We are pleased to announce this new convention with SACE, which adds to the recent signing of the Green Guarantee. A collaboration that demonstrates Cherry Bank’s commitment to supporting the financial needs of its client companies and represents a significant step in our broader commitment to promoting the adoption of practices and solutions aimed at developing the future of businesses in line with ESG pillars, such as environmental respect, digitalization, and gender equality.”
“Thanks to the collaboration with Cherry Bank, we support the growth of Italian businesses, especially SMEs,” said Daniela Cataudella, Head of Dynamic Business Solutions at SACE. “With the Future Guarantee, which complements our offer of green guarantees and the new Archimede, our support for business investments and the Italian economy becomes structural. We support all companies in the sustainable transition and innovation, to make processes more efficient, increase operating margin and creditworthiness, to be increasingly competitive in Italy and abroad.”
Blogger and Investment Management Advisor with focus on Distressed Assets & NPL. Massimo is Chief NPL & Fintech Editor at Credit Village Magazine.